ACADEMIC PAPERS

2018. Rentiers, the inheritors of the entrepreneurs, and financiers, a special type of technobureaucrats, are the fuling classes in contemporary capitalism; neoliberalism is their ideology. The financiers manage the wealth of the idle rentiers and act as organic intellectuals of this very narrow class coalition. (Revista de Estudos Avançados,USP)

2018. Rentiers, the inheritors of the entrepreneurs, and financiers, a special type of technobureaucrats, are the fuling classes in contemporary capitalism; neoliberalism is their ideology. The financiers manage the wealth of the idle rentiers and act as organic intellectuals of this very narrow class coalition. (Discussion Paper)

2018. Estes pontos pretendem constituir uma teoria histórica do Estado e ser uma alternativa à teoria contratualista.

2018. Developmentalism is the twin brother of economic nationalism, as it is the ideology of development geared toward industrialization that assumes a moderate state intervention in the economy and the defense of national interest in a world in which competition between nations is stronger than cooperation. (Paper in Economia e Sociedade; English version also in this site).

2018. Paper presented in the Shanghai Forum.

2017. Capitalism and the state are either developmental, or liberal. Developmentalism and economic liberalism are two forms of coordinating capitalism. Capitalism was born developmental anywhere, in England or in the US, in Germany or in Brazil, in Japan or in China. (paper: Brazilian Journal of Political Economy)

2018. In the past, the individualism that is associated to liberal capitalism was tempered by socialism, democracy, nationalism and republicanism. Since capitalism turned neoliberal it turned radically individualistic and unjust. (Essay to be published)

2018. The phases of capitalist development having as criteria the variables of Marx's model of the falling tendency of the rate of profit. It actualizes the book Lucro, Acumulação e Crise (1986). (Paper in the Brazilian Journal of Political Economy)

2018. An encompassing paper on economic nationalism, its relation to developmentalism. Why it is a condition of growth in a world where nation-states rather compete than cooperate. (Paper in t, Turkish journal. Portuguese version also in this site)

2017. The first developmentalism was mercantilism, the second, Fordism, which was a progressive class coalition. After the 2008 Crisis neoliberalism turned demoralized, state intervention increased, and a third developmentalism is looming, but it will be a conservative capitalism due to the competition of China and other developing countries.

2017. With André Nassif and Carmem Feijó. A discussion on the connection between the macroeconomic regime and industrial policy, both oriented to reindustrialisation and catching up. (Paper for the Cambridge Journal of Economics)

22017. The science and technology community's competent efforts are neutralized by the overvalued exchange rate, which discourage investment and techical progress.

2017. Este artigo relaciona três fatos históricos novos após a II Guerra Mundial: o surgimento do estado social ainda nos anos 1940, sua contestação por uma ideologia neoliberal rentista e financista que se torna dominante a partir dos anos 1980, e a formulação e adoção da reforma gerencial como uma forma de legitimar o estado social ante o ataque que estava sofrendo, tornando a provisão dos seus grandes serviços sociais universais mais eficientes. English version available. (Revista de Administração Pública)

2017. Rentier-financier capitalism is in economic crisis since 2008 and in political crisis since 2016. The secular stagnation issue was brought again to the fore, in so far as capitalism turned again liberal (instead of developmental) since 1980. But it is more likely that rich countries will face low growth, financial instability, and increasing inequality, unless they are able to criticize economic liberalism. (Paper for Berlin conference)

2017 - Since 1990, the Brazilian economy is quasi-stagnant under a liberal economic policy regime. Rentier-financier liberalism is incompatible with growth, because it keeps interest rates very high and the exchange rate overvalued in the long-term. (Paper: Estudos Avançados).

2017. The Dutch disease is an economic problem that a simple economic policy may resolve, while the natural resource curse is a political-cultural problem very difficult to resolve. Paper presented in St. Petersburg.

2017. Em países em desenvolvimento a sofisticação produtiva e o aumento da produtividade podem ser melhor explicados pela transferência de trabalhadores e técnicos para os setores mais sofisticados, do que pelos rendimentos crescentes, que são mais relevantes para os países ricos.

2017. Countries turn consolidated democracies after their industrial revolution which they made in authoritarian regimes. Today, pre-industrial countries are supposed to be democratic before their industrial revolutions. (Paper in the BJPE)

2015. Countries turn consolidated democracies after their industrial revolution which they made in authoritarian regimes. Today, pre-industrial countries are supposed to be democratic before their industrial revolutions. 

2014. Countries turn consolidated democracies after their industrial revolution which they made in authoritarian regimes. Today, pre-industrial countries are supposed to be democratic before their industrial revolutions. (EESP/FGV discussion paper 367)